public utility

an organization supplying water, electricity, transportation, etc. to the public, operated, usually as a monopoly, by a private corporation under governmental regulation or by the government directly

public utility

noun

A private business organization, subject to governmental regulation, that provides an essential commodity or service, such as water, electricity, transportation, or communication, to the public.

public utility - Legal Definition

n

A company such as an
electric company or gas company, the nature of which is to be a monopoly in a
particular region. Because no free-market forces can exist in this situation,
governmental regulation of such companies is the norm.